Torrent Gas to invest 8000 crore in CGD over 5 years
12 October 2020
Torrent Gas Ltd plans to invest Rs 8,000 crore over the next five years for creating city gas distribution (CGD) infrastructure. The company also aims to set up 500 compressed natural gas (CNG) stations by March 2023.
“Torrent Gas intends to invest Rs 8,000 crore towards the creation of CGD infrastructure over the next five years. Of this, an amount of Rs 1,050 has already been invested so far,” said Jinal Mehta, director, Torrent Gas.
The CGD arm of the Ahmedabad-based Torrent Group announced the commissioning of 42 compressed natural gas (CNG) stations and 3 city gate stations (CGS) across several states.
These CNG and CGS stations were dedicated to the service of the community by the Union minister of petroleum, natural gas, and steel Dharmendra Pradhan through a video conference.
Of the newly commissioned CNG stations, 14 are located in Uttar Pradesh, 8 in Maharashtra, 6 in Gujarat, 4 in Punjab, and 5 each in Telangana and Rajasthan. One CGS each has been operationalized in Uttar Pradesh, Maharashtra, and Punjab.
Torrent Gas, fastest-growing CGD companies in the country, has won the licences for selling CNG and piped natural gas (PNG) in 32 districts across seven states and one Union territory.
With the addition of new CNG stations, the company now has commissioned 100 CNG stations within a short time.
“We are now working towards our near-term goal of setting up 200 CNG stations by March 2021 and medium-term goal of setting up 500 CNG stations by March 2023,” Mehta added.